Presentations text content in Loan Completion Process
Slide1
Loan Completion Process
Jay Coomes, Fiserv
Joe Dahleen, SME
Slide2Considerations: Unit Throughput Production volume fluctuations Origination Regulation Servicing Regulation
Established Loan Processing Domains
Slide3Loan Completion: Operational Goals
Ensure compliance Reduce risk Improve processor efficiencies Increase customer satisfaction Decrease Cost Ensure Revenue
Loan
Origination
Regulatory
Compliance
Loan
Servicing
Completion
Process
Slide4Loan Completion Process: Tasks
Loan
Origination
Regulatory
Compliance
Loan
Servicing
Completion
Process
Pre-Close
Audit
Post-Close Audit
Trailing
Documentation
Document Logging and Tracking
Post Close QC
Recurring Commercial Audits
Confirmation of doc receipt
Loan Audit Delivery
Loan Insurer Delivery
Loan Investor Delivery
Pool Quality
Review
. . .
Slide5Today’s Results
Slide6Poor processing and documentation quality Lack of regulatory compliance Low customer satisfaction
Current Loan Completion Process: Results
Slide7
Non-standard, Disparate solutions Home grown tools: Access Databases Excel Spreadsheets PDF Documents Some specific 3rd party solutionsAll are used to accomplish the completion of loan processing! With expected results!
Loan Completion Process: Environment
Slide8
Standardize Loan Completion Process
Standardization Steps: Define the overall process Identify task within each step of the process Automate as much as possible Provide for flexibility of an ever changing regulatory landscape
Loan
Origination
Regulatory
Compliance
Loan
Servicing
Completion
Process
Slide9Loan Completion Process Automation
LOS Integration & Doc Scanning
Capture
Verification/Confirmation
Confirm
Package
Delivery
Deliver
Tracking Doc Location
Track
Quality
Reviews
Review
Loan Completion Operational Process
Slide10Automated Loan Completion Process
Yields a successful,
trackable and complete transfer of the loan to its Ultimate Destination
Slide11Slide12
Improve loan quality to loan level deficiency and detection
Close wasteful gaps in processing and fulfillment
Increase warehouse velocity – while avoiding delay and risk
Proactive approach to re-purchase risk
Increase performance by leveraging technology thus reducing FTE
Reduce cost during the lifecycle of the loan
Slide13
Loan
Complete
Loan
Servicing
Loan
Origination
Regulatory
Compliance
Provides a life of loan solution
Integrates with Fiserv’s loan origination, servicing
solutions
Executes standardized workflow processing at each
phase
Includes data and document content management
Provides data quality stage gates, audit checks and data element analytics
Fiserv’s
LoanComplete
Solution
Slide14Joe Dahleen [guest speaker]
Mortgage Technology Consultant and Chief Strategy Officer
[whitepaper on Loan Completion Process]
Slide15Another View at the Loan Completion Space
Slide16Life
of Loan
Loan Completion Operational Functions
Slide1717
Life
of Loan
Loan Completion: Regulatory/Compliance
State Licensing Management Lawsuit Case Management CFPB Complaint Processing CFPB Self Examination – Default Loans CFPB Self Examination – Core Servicing
LoanComplete
: Workflows
are designed to accelerate business processes, both content and case-based, while reducing costs associated with risk management and regulatory compliance mandates
Slide18Compliant Processing – Highest priority outtakes from CFPB
Slide1919
Life
of Loan
Loan Completion: Loan Origination
Loan Origination Document Routing Loan Closing Document Routing Customer Service Case Management
LoanComplete
: Workflows
have been designed to track and react , maximizing the consumer experience and minimizing the processing timeline.
Slide20Life
of Loan
Loan Completion: Quality Control
Investor Delivery Document Readiness Review Loan Sale Due Diligence Processes Pool Allocation Management
LoanComplete
: Designed
to support requirements for providing deep loan level data, remotely viewable documents, standardized packaging and
eDelivery
.
Slide21Life
of Loan
Loan Completion: Loan Servicing
Loan Servicing Acquisition/Sale Review Early Default Review PreForeclosure Review Payoff Review Loan Modification Document Routing
LoanComplete
: Workflows
are designed to improve the loan servicing review processes by leading the reviewer thru configurable workflows and routing exceptions for action, reducing risk and costs.
Slide22New and Expanded Operational Procedures from CFPB
Examination on consumer-facing aspectsDefault servicing and foreclosure – including collections, bankruptcy, loss mitigation and foreclosuresCore servicing – including servicing transfers, payment processing, escrow accounts, Credit reporting and information sharing and privacy
Focus is on UDAAP compliance
Timely, clear and accurate disclosures to borrowers,
Proper application of fees and payments, including those associated with foreclosure
Consistent and fair application of loss mitigation and foreclosures related activities, especially where there is judgment applied that could lead to disparate treatment
Slide23Life
of Loan
Loan Completion: Secondary Market
Agency Prefunding QC Audit Agency Post Closing QC Audit FNMA/FHLMC Post Close QC – Legal Docs GNMA Post Closing Review Pre Loan boarding data validation
LoanComplete
: Workflows
are designed to
ensure
the quality of each loan meets
standards
and requirements established by
investor
, lender and loan servicer, reducing risks and improving processor effectiveness.
Slide24The Hiring Strain
ProblemExperienced Employee Talent is in high demandHiring untrained employees shift pressure to training Money and Time miss aligned in staff assignedCapacity planning on Human capital opens gaps
Solution
Leverage technology to lower operating cost
Increased efficiency through reduction in manual labor
Minimized time delays with intelligent pre-defined workflow
Simplify audit review with movement of data and documents
Slide25Loan CompletionThe New Lending Application Domain
Features – Joe Slide
Slide26
What’s Next ?
Stop by the Solution Showcase to see more about the Fiserv LoanComplete family of ProductsAsk you Fiserv Representative for more information Read Joe’s Whitepaper defining the Loan Completion SpaceAttend the PwC session regarding the CFPB and learn how the LoanComplete technology can apply Stay tuned for more on the Loan Completion Space and what Fiserv is
26
Slide27Jay.coomes@fiserv.com
000-000-0000
Jay Coomes
jdahleen@comcast.net
206-499-4888
Joe Dahleen
Loan Completion Process
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